Worth reading
63In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Neutral
Direction inferred from the company’s description.Scale
0.25
% (dilution rate relative to the number of shares outstanding)Wording
Definitive
How definitive the wording is.Details of issuance or disposal
Issuance of stock acquisition rights as paid stock options
Who receives how much
100,000 shares (1,000 stock acquisition rights, 100 shares per right)
4 of the Company’s directors100,000 shares (1,000 Stock Acquisition Rights)
The lower thin line represents the existing number of shares to which these shares will be added.
¥32,700 per stock acquisition right
Total issue value
¥32,700,000 (planned)
Amount of funds to be raised
Total payment for the stock acquisition rights: ¥32,700,000 (planned). Total value of the assets contributed upon exercise: ¥750,300,000 (planned)
発行済株式総数
0.25% (relative to 40,220,200 shares outstanding)
The dilution rate shows what proportion the newly issued shares represent of the existing shares. The higher the proportion, the more the value and voting rights per share are diluted.
Terms of the stock acquisition rights
Exercise price
The initial exercise price is ¥7,503 per share. Adjustment provisions apply in the event of a stock split, reverse stock split, or issuance of new shares at a price below market value, among other events. Floor for adjustments: Not disclosed.
Exercise period
Start Date 23 April 2030 / End date 8 April 2036
Number of Stock Acquisition Rights
Total number to be issued: 1,000 (planned). Number of unexercised rights remaining: Not disclosed.
Reason for acquisition without consideration
Approval of a corporate reorganization or similar transaction; a failure to meet the exercise conditions for the stock acquisition rights; the holder’s waiver of all or part of the stock acquisition rights; or a resolution by the Board of Directors to acquire all or part of the stock acquisition rights in other circumstances.
Conditions on transfer restrictions
Restricted stock is stock awarded as compensation that cannot be sold during a specified period, with the restrictions lifted once the applicable conditions are met.
Conditions for lifting transfer restrictions
Approval by the Company’s Board of Directors is required to acquire the stock acquisition rights through a transfer. The number of rights that may be exercised is capped at 20% from 23 April 2030, 40% from 23 April 2031, 60% from 23 April 2032, 80% from 23 April 2033, and 100% from 23 April 2034 onward. Exercise is also conditional on consolidated net sales for each fiscal year from the fiscal year ending July 2026 through the fiscal year ending July 2028 meeting the target levels set out in the stock acquisition rights allotment agreement.
Categories and Number of Persons Covered
4 Company directors; 1,000 stock acquisition rights (100,000 underlying shares)
Payment date
23 April 2026
Basis for determining the amount to be paid
¥32,700 per stock acquisition right. The amount was determined with reference to the results calculated by the third-party valuation institution Focus Valuation Co., Ltd. using a Monte Carlo simulation and taking into account the Company’s share price information and other factors. Discount rate and premium rate: Not disclosed. The exercise price is ¥7,503, the closing price for common shares in regular trading on the Tokyo Stock Exchange on 7 April 2026.
Procedures under the Corporate Code of Conduct
Because the rights will be issued for consideration at fair value and on terms that are not particularly favorable, the issuance will be carried out without obtaining approval at a shareholders’ meeting. The payment amount was determined with reference to a valuation by a third-party valuation institution.
| Item | Details |
|---|---|
| Type of issuance or disposal | Issuance of stock acquisition rights as paid stock options |
| Number of shares to be issued or disposed of | 100,000 shares (1,000 stock acquisition rights, 100 shares per right) |
| Issue price and disposal price | ¥32,700 per stock acquisition right |
| Total issue value | ¥32,700,000 (planned) |
| Amount of funds to be raised | Total payment for the stock acquisition rights: ¥32,700,000 (planned). Total value of the assets contributed upon exercise: ¥750,300,000 (planned) |
| Payment date | 23 April 2026 |
| Intended allottee | Name 4 of the Company’s directors / Number of Shares 100,000 shares (1,000 Stock Acquisition Rights) |
| Dilution Rate | 0.25% (relative to 40,220,200 shares outstanding) |
| Basis for determining the amount to be paid | ¥32,700 per stock acquisition right. The amount was determined with reference to the results calculated by the third-party valuation institution Focus Valuation Co., Ltd. using a Monte Carlo simulation and taking into account the Company’s share price information and other factors. Discount rate and premium rate: Not disclosed. The exercise price is ¥7,503, the closing price for common shares in regular trading on the Tokyo Stock Exchange on 7 April 2026. |
| Exercise price | The initial exercise price is ¥7,503 per share. Adjustment provisions apply in the event of a stock split, reverse stock split, or issuance of new shares at a price below market value, among other events. Floor for adjustments: Not disclosed. |
| Exercise period | Start Date 23 April 2030 / End date 8 April 2036 |
| Number of Stock Acquisition Rights | Total number to be issued: 1,000 (planned). Number of unexercised rights remaining: Not disclosed. |
| Conditions for lifting transfer restrictions | Approval by the Company’s Board of Directors is required to acquire the stock acquisition rights through a transfer. The number of rights that may be exercised is capped at 20% from 23 April 2030, 40% from 23 April 2031, 60% from 23 April 2032, 80% from 23 April 2033, and 100% from 23 April 2034 onward. Exercise is also conditional on consolidated net sales for each fiscal year from the fiscal year ending July 2026 through the fiscal year ending July 2028 meeting the target levels set out in the stock acquisition rights allotment agreement. |
| Reason for acquisition without consideration | Approval of a corporate reorganization or similar transaction; a failure to meet the exercise conditions for the stock acquisition rights; the holder’s waiver of all or part of the stock acquisition rights; or a resolution by the Board of Directors to acquire all or part of the stock acquisition rights in other circumstances. |
| Categories and Number of Persons Covered | 4 Company directors; 1,000 stock acquisition rights (100,000 underlying shares) |
| Procedures under the Corporate Code of Conduct | Because the rights will be issued for consideration at fair value and on terms that are not particularly favorable, the issuance will be carried out without obtaining approval at a shareholders’ meeting. The payment amount was determined with reference to a valuation by a third-party valuation institution. |
Items this document does not state (12)
Estimated issuance expensesSpecific use of fundsIntended allottee's holding policyTotal number of issued sharesTransfer restriction periodTotal Stock-Based CompensationUnderwriter / lead underwriterOverallotmentStock Split RatioMost recent equity financingMajor shareholders after the offeringImpact on Business Performance
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To raise the directors’ motivation and morale and strengthen the Company’s unity in pursuit of medium- to long-term earnings growth and increased corporate value. Exercise is conditional on the achievement of performance targets, which the Company explains will contribute to improving corporate and shareholder value.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.